Legal analysis: the custodian plays the role of trustee in China, and the custodian and manager form the relationship of entrustment and entrustment.

Legal basis: Article 37 of the People's Republic of China (PRC) Securities Investment Fund Law, a fund custodian shall perform the following duties:

(1) Safely keeping the fund property;

(2) Opening a capital account and a securities account of the fund property in accordance with regulations.

(3) Set up separate accounts for different fund assets under custody to ensure the integrity and independence of the fund assets;

(4) Keeping records, account books, statements and other relevant materials of fund custody business activities;

(five) in accordance with the provisions of the fund contract, according to the investment instructions of the fund manager, timely liquidation and settlement matters;

(6) Handling information disclosure matters related to fund custody business activities;

(seven) to issue opinions on financial accounting reports, interim and annual fund reports;

(eight) to review the net asset value of the fund and the purchase and redemption price of the fund share calculated by the fund manager;

(9) Convening a general meeting of fund share holders in accordance with regulations;

(ten) to supervise the investment operation of the fund manager in accordance with the provisions;

(eleven) other duties as prescribed by the the State Council securities regulatory agency.